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�o��o�s�� FHA Case No. � 32�-2992936 ADJUSTABLE RATE RIDER THIS ADNSTABLB RATE RIDER is made this 28th day of March , 2011 , and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed ("Security Instrument") of the same date given by the undersigned ("Borrower") to secure Borrower's Note ("Note") to BANK OF NEBRA5KA (the "Lender") of the same date and covering the property described in the Security Instrument and located at: 1616 WEST STOLLEY PARK ROAD GRAND I5LAND, NE 68801 [Property Address] THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE AND THE MONTHLY PAYMENT. THE NOTE LIMITS THE AMOUNT THE BORROWER'S INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE THE BORROWER MUST PAY. ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) Change Date The interest rate may change on the first day of April , 2016 , and on that day of each succeeding year. "Change Date" means each date on which the interest rate could change. (B) The Index Beginning with the first Change Date, the interest rate will be based on an Index. "Index" means the weekly average yield on United States Treasury Securities adjusted to a constant maturity of one year, as made available by the Federal Reserve Board. "Current Index" means the most recent Index figure available 30 days before the Change Date. If the Index (as defined above) is no longer available, Lender will use as a new Index any index prescribed by the Secretary. As used in this Rider, "Secretary" means the Secretary of Housing and Urban Development or his ar her designee. Lender will give Borrower notice of the new Index. (C) Calculation of Interest Rate Changes Before each Change Date, Lender will calculate a new interest rate by adding a margin of Two and OOOt1000 percentage point(s) ( 2.000 %) to the Current Index and rounding the sum to the nearest one-eighth of one percentage point (0.125%). Subject to the limits stated in Paragraph (D), this rounded amount will be the new interest rate until the next Change Date. (D) Limits on Interest Rate Changes The interest rate will never increase or decrease more than Two and 000/1000 percentage point ( 2.000 %) on any single Change Date. The interest rate will never be more than Six and 000/1000 percentage points ( 6.000 %) higher or lower than the initial interest rate as stated in Paragraph 2 of the Note. (E) Calculation of Payment Change If the interest rate changes on a Change Date, Lender will calculate the amount of monthly payment of principal and interest which would be necessary to repay the unpaid principal balance in full at the maturity date at the new interest rate through substantially equal payments. In makmg such calculation, Lender will use the unpaid balance which would be owed on the Change Date if there had been no default in payment on the Note, reduced by the amount of any prepayments to principal. The result of this calculation will be the amount of the new monthly payment of principal and interest. (F� Notice of Changes Lender will give notice to Borrower of any change in the interest rate and monthly payment amount. The notice must be given at least 25 days before the new monthly payment amount is due, and must set forth (i) the date of the notice, (ii) the Change Date, (iii) the old interest rate, (iv) the new interest rate, (v) the new monthly payment amount, (vi) the Current Index and the date it was published, (vii) the method of calculating the change in monthly payment amount, and (viii) any other information which may be required by law from time to time. (G) Effective Date of Changes A new interest rate calculated in accordance with Paragraphs (C) and (D) will become effective on the Change Date. Borrower shall make a payment in the new monthly amount beginning on the first payment date which occurs at least 25 days after Lender has given Borrower the notice of changes required by Paragraph (F) of this Rider Borrower shall have no obligation to pay any increase in the monthly payment amount calculated m accordance with Paragraph (E) for any payment date occurring less than 25 days after Lender has given the required notice. If the monthly paynnent amount calculated in accordance with Paragraph (E) of this Rider decreased, but Lender failed to give rimely notice of the decrease and Borrower made any monthly payment amounts exceeding the payment amount which should have been stated in a timely notice, then Borrower has the option to either (i) demand the return to Borrower of any excess payment, with interest thereon at the Note rate (a rate equal to the interest rate which should have been stated in a hmely notice), (ii) request that any excess payment, with interest thereon at the Note rate, be applied as payment of prmcipal. Lender's obligation to return any excess payment with interest on demand is not assignable even if the Note is otherwise assigned before the demand for return is made. BY SIGI�TING BELOW, Borrower accepts and agrees to th t s and cove ts contained in this Adjustable Rate 'der. � (Seal) (Seal) �' JANA L RICHARDS Borrowe RICHARDS (Seal) Borrower Borrower FHA Multistate ARM Rider -10J95 2oo7.CV {io/os) 20006990 (Seal) Bonower (Seal) Borrower (Seal) GOTO(OOOc85f4)